PV does have "Month-to-Month" option in addition to "Year-to-Year" option.
FAGIX is a good fund that may be misclassified as HY. Up to 20% nominal can be in equities, but when high correlation of HY with equities is accounted for, it may as well be a moderate-allocation fund. So, a fair comparison may indeed be with VWELX or PRWCX.
A truer Fido HY is SPHIX and many other pure HYs.
Here is the PV runs with Month-to-Month and SPHIX added (it is so-so).
https://www.portfoliovisualizer.com/backtest-portfolio?s=y&sl=2CDNYo1aU7ofokbqqI3tCF

https://www.sec.gov/Archives/edgar/data/1873280/000089418923008251/kellyetfs-liquidationstick.htm
497 1 kellyetfs-liquidationstick.htm 497
Filed pursuant to Rule 497(e)
File Nos. 333-258490; 811-23723
Supplement to the
Summary Prospectus, Prospectus and Statement of Additional Information (“SAI”)
dated December 29, 2022, as previously supplemented, of the
Kelly Hotel & Lodging Sector ETF
November 6, 2023
The Board of Trustees of the Trust has approved a Plan of Liquidation for the Kelly Hotel & Lodging Sector ETF (the “Fund”). Accordingly, the Fund is expected to cease operations, liquidate its assets, and distribute the liquidation proceeds to shareholders on or about December 8, 2023 (the “Liquidation Date”).
Effective November 7, 2023, the Fund will no longer accept orders to purchase creation units, and the last day of trading of shares of the Fund on NYSE Arca, Inc. will be November 30, 2023 (the “Closing Date”). Shareholders of record on the Liquidation Date will receive cash at the net asset value of their shares as of such date. Shareholders remaining in the Fund until the Liquidation Date may bear increased transaction fees in connection with the disposition of the Fund’s portfolio holdings. Any liquidation proceeds paid to shareholders should generally be treated as received in exchange for shares and will therefore generally give rise to a capital gain or loss depending on a shareholder’s tax basis. Shareholders should contact their tax adviser to discuss the income tax consequences of the liquidation.
In anticipation of the liquidation of the Fund, Kelly Strategic Management, LLC, the Fund’s adviser, will manage the Fund in a manner intended to facilitate its orderly liquidation, such as by raising cash or making investments in other highly liquid assets. As a result, during this time, all or a portion of the Fund may not be invested in a manner consistent with its stated investment strategies, which may prevent the Fund from achieving its investment objective. Shareholders of the Fund may sell their holdings on the NYSE Arca, Inc., on or prior to the Closing Date. Customary brokerage charges may apply to such transactions. After the Closing Date, we cannot assure you that there will be a market for your shares. Please contact the Fund at 1-800-658-1070 if you have any questions or need assistance.
Please retain this Supplement with your Summary Prospectus, Prospectus and SAI for future reference.

https://www.sec.gov/Archives/edgar/data/872649/000119312523271357/d535535d497.htm
497 1 d535535d497.htm LOOMIS SAYLES FUNDS II
Supplement dated November 6, 2023, to the Loomis Sayles Credit Income Fund Prospectus and Statement of Additional Information, each dated February 1, 2023, as may be revised and supplemented from time to time.
Loomis Sayles Credit Income Fund
On November 6, 2023, the Loomis Sayles Credit Income Fund (the “Fund”) was liquidated.
The Fund no longer exists, and as a result, shares of the Fund are no longer available for purchase.

Hello,
Does anyone has experience with Medicare Part D plan -> SilverScript SmartSaver (PDP) offered by AETNA (Texas)?
I have original medicare and this year I am actively researching the plan for 2024.
I have Humana for 2023 but the cost is increasing a lot for 2024 so looking for an alternative.
All my current meds are covered under tier 1 - can't review formulary and don't know my future needs - average health.
I see another plan from Wellcare - premium just 50 cents monthly but drug costs more - so overall costs more than above.
Any other suggestion will be highly appreciated as I don't know how to compare the plans offered and premium prices are all over.
Thanks.

Just finished reading Prof. Snowball's piece on junk bonds in which much is made of the virtue of investing in junk, as opposed to "equities."
Just for fun ("Gonna turn this mother out.") I decided to back-test FAGIX versus an equal-weight widows-and-orphans portfolio of FSUTX and FDFAX not subject to rebalancing. I had no idea how this would turn out.
The Vanguard 500 is included as the benchmark. Results since 1986 in this link. Junk has the lower standard deviation. But how many people pay attention to SD versus "Worst year I spent with this portoflio?" Junk had the worst year versus W&O at 31.9% to 27.36%. I also notice that W&O lead on Sharpe and Sortino numbers. They also made twice as much money for you, and beat the 500 index just for fun.
How about other time periods? Prof. Snowball looks at 15 years. FAGIX pulls slightly ahead of W&O, but still has the worst year.
And 20 years. W&O are back in the money lead, but FAGIX pulls ahead on Sharpe and Sortino numbers.
Prof. Snowball also runs through numbers from all the periods of The Great Distortion, which I am too lazy to run. But I will run two of my favorites from MFO premium: Since COVID, and TGN. Portfolio Visualizer does not account for monthly starts, so the first test dates from 202001, and the second from 202201.
Since COVID, W&O eke out a win in money, Sharpe, and Sortino numbers. And they do much better in the worst-year category.
Since TGN, W&O have lost less of your money. And there is something to be said for that in a period of rising rates.
A person can have more fun with this PV by adding 100% VWELX or PRWCX as the third portfolio entry.

A few other things to keep in mind:
1. ACA - for those "younger" (pre-65) folk, subsidies get phased out based on income. KFF.org seems to have a decent calculator for these subsidies. I haven't checked it out extensively, but IMHO KFF is one of the most complete and accurate sources of information on health care.
https://www.kff.org/interactive/subsidy-calculator/
2. State help with Medicare drug coverage. This depends on state and income level. For example, NYS has its Elderly Pharmaceutical Insurance Coverage (EPIC) program that may help with co-pays for individuals with income up to $75K (individual) or $100K (married).
3. Cap gain/ qualified divs - this can get messy for an obvious reason and one that's more complicated:
a) Cap gains are "outside" of ordinary taxes. They have their own rates and brackets. The conversion calculator assumes all AGI is ordinary income. Whether cap gains or ordinary income, all income affects IRMAA the same way. But how much to convert to fill an ordinary income tax bracket depends on how much of your income is taxed as ordinary income and how much is taxed as cap gains.
You can fake out the calculator by just giving it the ordinary income part of your AGI to fill your bracket. Then recalculate with this amount plus your cap gains income (no extra conversions) to see the IRMAA impact.
b) If your income is at the level where some cap gains are taxed at 0% and some at 15%, then every extra dollar you earn (convert) is taxed at 15% plus your ordinary tax rate. Kitces calls this region of income the "bump zone". A simple rule of thumb is "go long (convert until you're well past the bump zone) or go home". Kitces provides a more thorough analysis for Roth conversions and bump zones.

https://www.kitces.com/blog/long-term-capital-gains-bump-zone-higher-marginal-tax-rate-phase-in-0-rate/
FInally, a petty observation. The conversion calculator doesn't seem to include Part D IRMAA (around 1/5 of Part B IRMAA). "It is not commonly known, but the more you earn, the more you pay for Medicare Part B."
Apparently even less well known is that Part D also has IRMAA charges. :-)
https://www.medicare.gov/drug-coverage-part-d/costs-for-medicare-drug-coverage/monthly-premium-for-drug-plans

(Linked thru Yahoo. Originally by Bloomberg)
“Leveraged funds ramped up net short Treasury futures positions to the most in data going back to 2006, according to an aggregate of the latest Commodity Futures Trading Commission figures as of Oct. 31. The bets persisted even though the cash bonds had rallied the week before. ‘It feels like short US Treasuries positioning was at an extreme last week, which was an accident waiting to happen,” said Gareth Berry, strategist at Macquarie Group Ltd. in Singapore. “Price action in Treasuries for the past few months was a classic case of a persuasive story feeding the price action, until it went too far, leading to an overshoot which is now correcting.’”
https://finance.yahoo.com/news/hedge-funds-catapulted-treasury-shorts-023424329.html

Saba is doing a tender offer for 45% of GIM and will rename it SABA. The AUM is $437 million. It will become a big fund for Saba (existing ETF CEFS & CEF BRW).
Twitter LINK
https://www.cefconnect.com/fund/GIM
Edit/Add. https://www.businesswire.com/news/home/20231106482750/en/

I wanted to share this recent (Nov 2023) article regarding M2 money supply and its recent contraction:

The significance of this decline is twofold. To start with, there are economic implications of having less capital in circulation. With core inflation still well above historic norms due to higher shelter expenses, consumers may be forced to pare back their discretionary purchases. In other words, declining M2 sets the stage for a potential downturn in the U.S. economy.

money-supply-great-depression-big-move-in-stocks
Another article (Feb 2021) discusses M2 and its inconsistent implications on stocks:

...it is clear enough that big surges in M2 are followed by big surges in the stock market. It is less clear whether or not big dropoffs in M2/GDP lead exactly to stock market declines, but they do seem to at least bring periods of increased volatility. So that is what we can look forward to if the Fed ever decides that it will try to put the M2 genie back into the bottle.

understanding_m2_and_stocks

The Week in Charts (11/05/23)
The most important charts and themes in markets, including...
00:00 Intro
00:24 Bouncing Back With a Vengeance (Equities)
03:17 Investing in a Drawdown
06:08 Improving Bottom Line (Earnings)
09:54 Loosening Labor Market (Jobs Report)
15:49 Pause, Pause, Pause, Cut (Fed, FOMC)
21:54 Nothing From the 40 in 60/40
26:23 Mortgage Industry Decline (Housing Market)
29:35 More Affordable Rents (Rental Market)
Video
Blog

Thanks to @Devo for this very insightful article.
https://mutualfundobserver.com/2023/11/hot-coffee-and-hot-chocolate-a-brunch-and-walk-with-david-sherman/

@hank Just for the heck of it....although not look-a-like investments, the chart covers 2 years for LCORX v FBALX v SPY, beginning in June, 2007; through 2008 and into mid 2009. This, of course; includes the full bottom of this time frame in March of 2009.

They're all just shooting for their 15 minutes of fame. All it takes is one right guess.

@Mona, I used annualcreditreport.com for years. It required accessing the credit bureaus from annualcreditreport.com portal only. It provided credit reports but not the credit scores - I could pay some to get those. Then, 1/yr restriction. As my wife & my reports are almost identical, I had a system going where I could check my credit report somewhere every 3 mo.
But I got tired of this tracking.
Things may also be a bit different now.
On the other hand, I can log into Credit Karma anytime for FREE full reports & Vantage Scores (similar to FICO Scores). It also has a monitoring system to send alerts for changes. I use it only few times a year. Of course, I get ads for Intuit products - TurboTax, Mint (in the past), etc.

We could ask for details. That was before Steve Leuthold retired and the system got ... tweaked.
If you work through a brokerage, the minimum is often $100. That's my recollection of Scottrade / TD Ameritrade / Schwab - one morphing into the other.

David. Thanks as always. Haven’t gotten too far in … But intrigued by your mention of LCORX. $10,000 minimum. 1.28% ER. Apparently very overweight fixed income presently. A few short positions. And what appears to be a stellar long term risk adjusted record.
One interesting observation, however - If Yahoo Finance is to be believed, the fund fell 27.4% in 2008. Not bad compared to the roughly 50% drop in equities globally that year. Still, a bit more than I’ve have expected from such a cautious bunch.The nice thing is that the fund has such a long term record to be compared. A lot of us, self included, own things that weren’t around in 2008. That’s the year “the rubber really hit the road” or “the Kool-Aid hit the fan”. Whatever ….
https://finance.yahoo.com/quote/LCORX/performance?p=LCORX

Pacific Current Group owns stakes in several boutique fund managers.
Its major shareholder, River Capital, does not support the GQG Partners' transaction.
https://financialstandard.com.au/news/gqg-makes-official-bid-for-pac-179801936

Byron WIEN who passed away recently at 90 (1933-2023) had this philosophy on predictions (and he made many) - they were meant to be thought-provoking contemporaneously and it didn’t matter whether they turned out to be right or wrong (and he didn’t keep score himself, but others did).

“ You have heard the saying, "Buy low, sell high," correct?”
So, my thinking goes, “why not wait a little longer…rest in the mmkt sweet spot with 5%+ for a while. The 3,6,12-month t-bills ain’t bad either.”

Well said, Level5.
Especially since, "The stock market just finished its best week in almost a year, but lurking beneath the euphoric surface are fears about Corporate America’s profit outlook.
Among companies that have issued guidance this earnings season for next quarter and beyond, more have been providing estimates that trail analysts’ expectations. A gauge of forward guidance that compares corporate forecasts with the Wall Street consensus has been lower only once since 2019, data compiled by Bloomberg Intelligence show."
There is also the prospect of a prolonged government shutdown and a market that is still relatively expensive. The Fed's inflation target remains at +2% and rate hikes are still possible.
As a conservative and retired investor, I prefer to err on the side of caution and feel quite comfortable earning a risk-free 5.3%+ in CDs and a Treasury Floating Rate Bond ETF at this time.
Good luck,
Fred